Jointown Pharmaceutical Plans Preferred Share Issue to Raise Up to 2.8 Billion Yuan
Jointown Pharmaceutical announced a preliminary plan for a 2026 private placement of preferred shares. The company intends to issue no more than 28 million preferred shares, raising total proceeds of up to 2.8 billion yuan. After deducting issuance expenses, the funds will be used to repay bank loans and other interest-bearing liabilities, as well as to supplement working capital. The placement will target no more than 200 qualified investors, with no preferential allotment to existing shareholders.
Jointown's first-half net profit attributable to parent was 1.2 billion yuan, down 16.9% year on year
Jointown released its 2026 interim report. Operating revenue was 87.28 billion yuan, up 7.6% year on year. Net profit attributable to the parent was 1.2 billion yuan, down 16.9% year on year. Net profit attributable to the parent after deducting non-recurring items was 982 million yuan, up 3.2% year on year. Net operating cash flow was negative 2.781 billion yuan, an improvement of 1.4% year on year. In the second quarter, operating revenue was 42.5 billion yuan, up 8.7% year on year. Net profit attributable to the parent was 467 million yuan, down 1.7% year on year. Net profit attributable to the parent after deducting non-recurring items was 439 million yuan, down 1.2% year on year. As of the end of the second quarter, total assets were 120.775 billion yuan, up 3.8% from the end of the previous year. Net assets attributable to the parent were 28.755 billion yuan, up 0.7% from the end of the previous year. During the reporting period, the company's B2C e-commerce and pharmaceutical manufacturing self-operated businesses achieved year-on-year growth of 19.10% and 24.47% respectively, and it has established a nationwide intelligent logistics network, forming an efficient supply chain model integrating business-to-business and business-to-consumer operations.
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Jointown partners with National Pension Insurance to develop integrated medical and elderly care
Jointown has signed a strategic cooperation agreement with National Pension Insurance Company Limited. The two sides will establish a long-term strategic partnership and carry out innovative cooperation in areas such as pension finance plus pharmaceutical services. Because Huang Tao, a non-independent director candidate the company plans to nominate, is a director and senior executive of National Pension Insurance, this transaction constitutes a connected transaction. Jointown said the agreement aims to leverage the company's strengths, including its efficient pharmaceutical supply chain capabilities, nationwide pharmaceutical distribution and retail network, and rich accumulation of pharmaceutical industry data, and combine them with National Pension Insurance's professional advantages in pension finance, to explore a new business format and model of pension finance plus pharmaceutical services that is convenient, beneficial to the public, and broadly inclusive. The company cautioned that the agreement signed this time is a framework document, and specific cooperation projects will be negotiated and signed separately as business contracts. It is not expected to have a material impact on the company's 2026 operating results for the time being, and there is uncertainty in subsequent cooperation. In addition, Jointown issued its second tranche of super short-term commercial paper for 2026, supporting the elderly care industry, on April 22, 2026, with an issuance size of 300 million yuan and a coupon rate of 1.53 percent, becoming the first private enterprise in China's pharmaceutical distribution industry to issue elderly care bonds.
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Over 10 Shanghai-listed companies unveil Quality and Efficiency, Return Enhancement 2.0 plans
The first batch of demonstration cases under the Shanghai Stock Exchange's Quality and Efficiency, Return Enhancement 2.0 special initiative has been released, with more than 10 Shanghai-listed companies setting quantitative targets around core indicators such as revenue, profit, R&D, output, buybacks, and dividends, and disclosing specific plans. These companies include CRRC, Guangxi Guiguan Electric Power, Ningbo Zhoushan Port, Eastroc Beverage, Jinshi Resources, Sepax Technologies, Anhui Heli, Haier Biomedical, Jiangsu Expressway, Laobaixing Pharmacy, and Jointown Pharmaceutical. Among them, Ningbo Zhoushan Port has set a 2026 cargo throughput target of 1.25 billion tonnes and a container throughput target of 57.65 million TEU, both up from 2025 levels. Sepax Technologies, using 2025 as the base year, has proposed a 25% revenue growth target and a 33% net profit growth target for 2026. Haier Biomedical aims to raise the share of overseas revenue from 36% in 2025 to above 50% within three years, and to lift the contribution of M&A revenue from 30% to above 40%. Raising dividend payout ratios, increasing dividend frequency, and implementing shareholding increases and buybacks have also become common choices for many companies. Jinshi Resources and Haier Biomedical, among others, have rolled out three-year shareholder return plans covering 2026 to 2028. Ningbo Zhoushan Port, Guangxi Guiguan Electric Power, and Eastroc Beverage have respectively proposed 2026 dividend payout ratios of no less than 65%, 70%, and 80%. Jiangsu Expressway has specified a change from one dividend per year to two dividends per year, and Anhui Heli plans to increase dividend frequency through measures such as interim dividends. In addition, several companies have set quantitative targets for increasing the frequency and forms of investor communication, and have formulated ESG-specific goals and implementation paths. Ningbo Zhoushan Port has also proposed governance-related targets such as independent directors spending no fewer than 15 days on-site in 2026.
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Jointown Nominates Li Zhongchao as Non-Independent Director Candidate, Appoints Liu Qingxin as Chief Compliance Officer
Jointown has nominated Li Zhongchao as a candidate for non-independent director of the sixth board of directors, and appointed Liu Qingxin as chief compliance officer. Li Zhongchao's director term will run from the date of approval by the shareholders' meeting until the expiry of the board's term, while Liu Qingxin will take full charge of compliance management for the same term. In addition, Wu Xuesong resigned as director on 26 July 2026 due to work adjustments, and the company stated that this will not affect the normal operation of the board. In the first quarter of 2026, Jointown achieved revenue of 44.783 billion yuan and net profit attributable to the parent company of 733 million yuan.
Jointown's Controlled Subsidiary Adds Two Products to National Essential Medicines List
Jointown announced that its controlled subsidiary has added two products to the National Essential Medicines List, 2026 Edition, which will take effect on September 1, 2026. The new additions will help expand the coverage of the related products in medical institutions at all levels, positively impacting the company's product market expansion. In the first quarter of 2026, Jointown achieved revenue of 44.783 billion yuan and net profit attributable to the parent company of 733 million yuan.
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